It has been 12 years since directors Eduardo Sánchez and Daniel Myrick made indie horror history with The Blair Witch Project in 1999. Eduardo Sánchez is doing press for his new movie, Lovely Molly, and the director recently revealed he and Daniel Myrick still plan on making The Blair Witch Project 3. Here's what Eduardo Sánchez had to say below, indicating that the ball is currently in Lionsgate's court.

"It's completely up to Lionsgate. Dan and I are ready to do it. We've been toying around with a sequel idea that we really like. It's just a matter of getting our schedules in line and having Lionsgate sign off on the idea. We've been ready to do a Blair Witch movie for a long time. We're as close as we've ever been to making it happen but it's still not a guaranteed thing."

The director also said the sequel will completely disregard Book of Shadows: Blair Witch 2, the failed 2000 sequel which Eduardo Sánchez and Daniel Myrick executive produced.

"I actually liked the sequel but at the same time it exists in a world outside of the movie. So if we want to do a sequel to The Blair Witch Project, we have to stay in that world, which Book of Shadows didn't stay in that world. Book of Shadows created a different world. It's like if the sequel to Jaws started with shots of people lined up to see Jaws in the movie theater. For Book of Shadows it worked in a certain way but to me my biggest gripe with Artisan was you shouldn't have called it 'Blair Witch 2.' It would've been fine to call it Blair Witch Chronicles. It wasn't really a sequel to our movie. So it would be a direct sequel to our film living in that mythology of Burkittsville, being possessed, haunted by something."

The stars of The Blair Witch Project - Heather Donahue, Joshua Leonard, Michael C. Williams - will likely return for The Blair Witch Project 3, although not as the main characters.

"The plan is to have them [back]. They're probably not going to be the main characters but they're definitely characters in the sequel."